When thinking about passive income, most people may not consider staking cryptocurrency as an option but here is why you should. Staking is an easy way to earn interest in your cryptocurrency without investing in any equipment or committing hours of your time. You visit platforms such as Gorilix, Algorand, or Polkadot and stake your tokens, then collect your rewards.
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Gorilix (SILVA)
Gorilix (SILVA) is the native token of Gorilix DEFI protocol. The token was recently released via presale and has already doubled in price. The SILVA token holders and their delegates can also debate, propose, and vote on changes to the protocol. Gorilix allows you to stake your tokens into the ecosystem and get higher returns on your investment. As a platform that offers several services to the users, you are encouraged to stake your SILVA for more rewards and exclusive access to various programs.
In addition to earning from staking, Gorilix allows you to make interest by lending your ERC20 tokens back to the platform to earn interest. Interest is paid in SILVA tokens, and rates can be as high as 20% per annum.
SILVA tokens are now available exclusively through the Gorilix (SILVA) presale at Gorilix.io. For anyone wishing to stake with Gorilix, we recommend getting involved in the presale early to get the SILVA tokens at the cheapest possible price allowing you to get more tokens and reap the benefits of the growth throughout its presale.
Algorand (ALGO)
Algorand is a robust platform that provides effective scalability through validator nodes and instant transactions. ALGO is another good coin for staking because of its low entry requirements; Algorand stakers only need to have a single ALGO coin to become validators. The downside is that there are plenty of ALGO stakers in the ecosystem. However, while there are typically more validators than most other networks, likely, some validators with a low stake don’t participate as much as they should.
With ALGO, you can begin the staking process using a Ledger wallet or Algorand wallet. The total annual returns you will receive depend on the platform you use to stake and the number of coins staked. Generally, you can expect annual returns ranging from 5–10% of your total investment.
Polkadot (DOT)
Polkadot is considered one of the best staking coins because it uses scalable, multi-chain technology. The minimum stake to start earning rewards is currently 40 DOT or around $320 at the time of writing.
When it comes to staking Polkadot, the returns are also quite competitive, with an average annual return of 14%, which is great for earning passive income. You can stake DOT on many exchanges; it is worth noting that the more you stake, the better your rewards will be.
To buy your SILVA tokens, visit Gorilix.io.
To register for the presale: https://cabinet.gorilix.io/sign-up
To join the Telegram, Twitter & Instagram: https://linktr.ee/Gorilix
“Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”
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